Portland General Electric reports mixed Q3 results; reaffirms FY outlook

* Portland General Electric press release [https://seekingalpha.com/pr/20287858-portland-general-electric-announces-third-quarter-2025-results] (POR [https://seekingalpha.com/symbol/POR]): Q3 Non-GAAP EPS of $1.00 beats by $0.01.
* Revenue of $952M (+2.5% Y/Y) misses by $31.83M.

*
2025 EARNINGS GUIDANCE

PGE is reaffirming its estimate for full-year 2025 adjusted earnings guidance of $3.13 to $3.33 per diluted share (VS. $3.24 CONSENSUS) based on the following assumptions:

* An increase in energy deliveries between 3.5% and 4.5%, weather adjusted;
* Execution of power cost and financing plans;
* Execution of operating cost controls;
* Normal temperatures in its utility service territory;
* Hydro conditions for the year that reflect current estimates;
* Wind generation based on five years of historical levels or forecast studies when historical data is not available;
* Normal thermal plant operations;
* Operating and maintenance expense between $810 million and $830 million which includes approximately $135 million of wildfire, vegetation management, deferral amortization and other expenses that are offset in other income statement lines and $30 million of business transformation and optimization expenses;
* Depreciation and amortization expense between $550 million and $575 million;
* Effective tax rate of 15% to 20%;
* Cash from operations of $950 to $1,050 million;
* Capital expenditures of $1,220 million; and
* Average construction work in progress balance of $575 million.

MORE ON PORTLAND GENERAL ELECTRIC

* Portland General Electric: An AI Income Play To Buy Now [https://seekingalpha.com/article/4829265-portland-general-electric-an-ai-income-play-to-buy-now]
* Portland General Electric: Great 5% Yield And Data Center Tailwinds [https://seekingalpha.com/article/4820532-portland-general-electric-great-5-percent-yield-and-data-center-tailwinds]
* Portland General Electric Benefits From Hydropower [https://seekingalpha.com/article/4816264-portland-general-electric-benefits-hydropower]
* Portland General Electric Q3 2025 Earnings Preview [https://seekingalpha.com/news/4511458-portland-general-electric-q3-2025-earnings-preview]
* Seeking Alpha’s Quant Rating on Portland General Electric [https://seekingalpha.com/symbol/POR/ratings/quant-ratings]